Financial help--I-864

[grace413]

I had a question regarding the financial requirements for the I-864 visa. I understand that the requirement is 125% of the poverty line, so approximately $19,000.
Prior to mid-July 2012, I was not employed except in small jobs like nannying. Since July, my income has been approximately $1000 per month before taxes. This leaves a deficit of around $7,000.
I also have a savings account of $15,000 and a car worth approximately $9,000. I am a white US Citizen. My fiance is Korean and is on an F-1 visa here. He owns a car valued at $15,000 and has $3,000 in savings. Neither of us owe car loans or debts/loans aside from student debt. We have no payments to make aside from rent and small bills. This is our current financial situation.

Will these assets make up for the deficit of my own income? Are there other things we can count as income, such as student financial aid? My main concern is that I cannot prove income via tax returns except for the last half of this past year (so it will show only half of the year's income).
We have no cosigners, so the financial responsibility is completely ours.

We would like to stay here after marrying, so my fiance would need to change his status to a green card. What are the chances that the application would be approved, given our finances?

 

[Jackolantern]

For marriage to a US citizen, every $3 of assets offsets the income requirement by $1.

So your $15000 of savings is worth $5000 of income offsets, and his $3000 is worth $1000. That makes up $6000 of the $7000 shortfall. So you only need $1000 more of income, or $3000 more of assets. But add another $1500 or so of assets, because of the cost of the immigration process.

They won't count the cars because you own only one car each. But if you sold a car, the resulting cash could be used. He could do something like trade in his $15000 car for a $10000 car and $5000 in cash. That $5000 can then be added to your combined assets and also pay for the immigration process.

Alternatively, he could get a part time job on campus with his F-1 visa. If he doesn't have to leave the job when he finishes school and the job doesn't have other such time constraints, that income will be accepted.